“The 47-acre site is located adjacent to Palmisano’s headquarters along the Mississippi River,” he says. “It is one of the most significant proposed developments in the city in decades. Plans include a 1,200-room hotel, retail outlets, private residences and entertainment venues.”

Requests for proposals have been submitted, and convention center officials are planning to hold interviews in August to determine the future of the site, Moldaner says.

“In general, business has slowed down with decisions on the development side taking longer than pre-pandemic—an example being the Convention Center Development,” he says. “Our economy is hospitality driven. In the past two years, Palmisano completed 10 hotel projects and 1,548 hotel rooms. In looking at our current backlog, hospitality work is at a five-year low. As a result, we are pivoting and focusing efforts on other markets such as health care and affordable housing.”